For reporting purposes,current deferred tax assets and current deferred tax liabilities are:

Question

Quizplus · Accepted Answer

Current deferred tax assets and current deferred tax liabilities are netted against one another in the balance sheet in order to determine the net deferred tax asset or liability for reporting purposes. This is because these items are expected to be settled within one year and therefore are considered to be short-term in nature. Noncurrent deferred tax assets and liabilities are reported separately in the balance sheet as they are expected to be settled beyond one year.

For Reporting Purposes,current Deferred Tax Assets and Current Deferred Tax